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Myanmar to trim Kyaukphyu cost but drops Annan’s strategic review suggestion

Nay Pyi Taw’s plan to reduce the cost of Kyaukpyu Special Economic Zone, including the proposed deep-sea port, will help cap its external debt load and avoid repeating Sri Lanka’s Hambantota’s precedent, according to London-headquartered research firm BMI Research. At the same time, a government committee has dropped any mentioning of commissioning a Strategic Environmental […]

Government adds targeted export products

In a bid to contain the country’s trade deficit, the Ministry of Commerce (MOC) will include a new list of products targeted for exports under the National Export Strategy. Strategically identified by the ministry and the private sector in response to market demand, the list will include fruits, handicrafts, gems and jewelry, processed food products […]

South Korea to build $98 million logistics hub in Yangon

South Korea has invested $98 million to construct a logistics hub at Shwe Lin Ban Industrial Zone in Hlaing Thar Yar township, Yangon region. The move is touted to be vital to promoting Myanmar’s exports. HUBS MK Co Ltd from South Korea and Myanmar Trade Promotion Organisation under the Ministry of Commerce signed a memorandum […]

Beans and Pulses Traders Hopeful to Tap China Market

​​ Beans and pulses produced in Myanmar have long relied on the Indian market, but the industry has started broadening their horizons to another giant market – China, said U Aung Soe, director general from Myanmar’s Trade Promotion Organisation under the Ministry of Commerce. A delegation, which consists of officials from the ministry and nine companies […]

Myanmar to learn from Malaysia on ease of doing business

In order to raise its rank on the World Bank’s ease of doing business index, a Myanmar delegation recently visited Malaysia, which is much higher on the index, to study the situation there. Their findings will be reported to the ministries and Vice President, said U Aung Soe, director of the Myanmar Trade Promotion Team. […]

Quality Cotton Seeds Running Out Even as Demand Rises

National produciers of cotton – one of Myanmar’s strategic export crops – are facing problems accessing seeds, cotton farmers told The Myanmar Times. Cotton is cultivated twice a year across two seasons. However, cultivation has become expensive since farmers must now buy seeds from private agriculture companies due to insufficient government supplies. “The cost to […]

MPs to Crack Down on Brewers’ Waste Disposal

​​ Brewers who fail to dispose of their waste water properly could be closed down, MPs have been told. Deputy home affairs minister U Aung Soe told a hluttaw meeting on water pollution most of the currently operating breweries and distilleries could have their licences revoked unless they take urgent measures to clean up their […]

Mekong nations and South Korea eye up Myanmar’s investment potential

Yangon, July 1 – Mekong region countries, together with South Korea, have expressed an interest towards investment in Myanmar’s manufacturing sector, the Myanmar Investment Commission (MIC) has made it known. The fourth Mekong-ROK Business Forum recently took place at Yangon’s Novotel Hotel during which talks and negotiations were held between business entrepreneurs for the possibility of investment between Mekong […]

Congestion tax proposal divides Yangon residents

A proposal to levy a “congestion tax” on cars entering downtown Yangon has prompted a fierce response from motorists, who say it will do little to reduce traffic and may even create more jams. The debate was prompted by U Ba Myint, from the Yangon Supervisory Committee for Motor Vehicles, which is better known by […]